BUSINESS MATTERS
Article by Irana Wasti, Chief Product Officer at BILL
AI and SMBs: How to Decide What is Right for You
First, let's take a look at what we mean when we talk about AI. An AI tool is a software application that relies on artificial intelligence and machine learning to complete a specific task. These tools are used in all kinds of industries and sectors, including health care, education, finance, marketing and business. Like all technology, AI is changing and evolving, and you may have read about, or tried, the latest in AI technology - Generative AI. AI tools can be really helpful for small businesses - you just need to find the right tool or solution for the jobs you need done. Here are some of the capabilities that AI can deliver for your business:
1. AI can automate your repetitive tasks: Administrative tasks like recording sales data, reconciling accounts, reporting spends and expenses, creating invoices, and issuing payments can take hours. It's also susceptible to human error. One incorrect calculation or wrong number could have a big financial impact for your business. The good news is, you can save time by using AI tools to automate these
From the news to social media to your favorite podcast - artificial intelligence (AI) is capturing headlines. You've probably heard about generative AI tools that can write articles, create plans and manipulate images, and as a business owner, you might be curious how this could save you time and benefit your bottom line. You're not alone. As technology advances, AI's potential to revolutionize business grows more significant every day. I've served SMBs my whole career, and now in my current role at BILL, I spend time speaking to our SMB customers. I'm consistently hearing the same message: SMBs want to understand how automation and AI can help them get more control of their business and be more efficient.
For these businesses, the key is to find the right technology partner that can help you integrate AI tools in a way that works for you and your business. Here are some tips for how you can find the right technology and tools to help your business make the most of AI.
How AI can help your business thrive